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TMI Blog2001 (11) TMI 222X X X X Extracts X X X X X X X X Extracts X X X X ..... of Rs. 1 lakh, its source was traced to withdrawals from M/s Devi Silks, a firm on which the appellant is a partner. The AO has sfrangely disbelieved this said amount and brought this addition of Rs. 1 lakh under s. 69 of the Act and this the CIT(A) ought not to have confirmed. The CIT(A) was convinced with the said withdrawals and even after ascertaining from the AO that there existed no evidence to show that the said withdrawals was utilised for any other purpose pronounced openly that she would delete the addition of Rs. 1 lakh but strangely misdirected herself and confirmed the addition on grounds irrelevant to the facts of the case and hence the challenge. Having found that the entire amount was found on the date of search on 8th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e almirah and its key belonged to Shri C. Govindappa, the assessee before us. Therefore, the said assessee was brought to the residence of the said Shri. Mehta and the almirah was opened with the key provided by the appellant. It was found that there were certain papers and cash of Rs. 5 lakhs belonging to the appellant. Consequently, information was sent to the IT authorities who reached the scene and a statement under s. 132(4) was recorded from the appellant. The appellant admitted to the ownership of the cash of Rs. 5 lakhs found therein. During the course of his statement under s. 132(4) on 6th Sept., 1989, the assessee offered for taxation cash of Rs. 5 lakhs. Subsequently also, on 11th Sept., 1989 and 20th Dec., 1989, statements were ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on to Rs. 1 lakh and it is represented that the withdrawals from the partnership firm a few days before the search should be accepted as genuine. According to the learned authorised representative, the appellant was an illiterate weaver and having made a declaration of Rs. 4 lakhs would not have hesitated to offer the balance of Rs. 1 lakh but for the genuine fact that the said sum was comprised of the withdrawals made from the firm. According to him, it is an admitted fact that the withdrawals have been made by the assessee from the firm which cumulatively came to Rs. 1 lakh before the date of search. According to the learned authorised representative, the argument of the lower authorities that the cash was kept in the almirah after his fa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... learned Departmental Representative, the assessee during the course of his submissions has clearly stated that because of the dispute between the brothers consequent to the death of the assessee's father, the said amount was kept in the almirah with his friend for safe custody. Out attention was drawn to the statement on oath recorded under s. 132(4) on 11th Sept., 1989, which is forming a part of the paper book. According to the learned Departmental Representative, the father of the assessee died on 11th March, 1988 and, therefore, the said amounts could not have been made up by the amount withdrawn from the firm on the dates as mentioned by the assessee. 7. After hearing the rival submissions and perusing the material on record, we pro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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